Vail Resorts Aquires Whistler-Blackcomb

[Pipe_Munky]

Vail Resorts strikes $1.4-billion deal to buy Canada’s Whistler Blackcomb

STAFF

The Globe and Mail

Published Monday, Aug. 08, 2016 7:19AM EDT

Last updated Monday, Aug. 08, 2016 7:59AM EDT

"Vail Resorts Inc. has struck a deal to acquire Canada’s Whistler Blackcomb Holdings Inc. worth what the two companies say is $36 a share, or $17.50 cash and 0.0975 of a share.

Whistler chief executive officer Dave Brownlie said the deal, worth about $1.39-billion, would boost the Canadian company’s financial heft and marketing, among other things.

“We will also continue our discussions with the Squamish and Lil’wat First Nations, on whose traditional lands we operate, regarding a business partnership that will benefit our communities, our province and our company for decades to come,” he said in a statement.

Related: How Whistler transformed itself in to a top skiing draw

“Our board of directors has also been monitoring the unique challenges facing the broader ski industry to the unpredictability of year-to-year regional weather patterns.”

Whistler is one of Canada’s major ski sites, while Vail boasts mountain resorts across the United States and in Australia."
http://www.theglobeandmail.com/repo...y-canadas-whistler-blackcomb/article31306120/

 

[PacificRimJob]

God damnit...

 

[el_mn_op]

 

[HaydenWrong]

Jennifer Aniston for the win

via GIPHY

[url=http://

 

[big.love]

Spinach is a good source for potassium. #nowyouknow

 

[SkiBum.]

Upsetting.

 

[CaptainObvious.]

I'm excited.

 

[intifada]

The evil empire is expanding. As a vail resorts employee I'm stoked they finally have a decent mountain I can ski at for free because the rest of their resorts are trash.

 

[CB4TSB]

This just in Vail Resorts has applied for a trademark patent on the word "Whistler"

 

[Jibberino]

The evil empire is expanding. As a vail resorts employee I'm stoked they finally have a decent mountain I can ski at for free because the rest of their resorts are trash.

Yeah, Breck, Key, Kirkwood and Park City all suck. Especially for pow and park.

 

[a_burger]

how long until anti-trust?

 

[CaptainObvious.]

Yeah, Breck, Key, Kirkwood and Park City all suck. Especially for pow and park.

lol Kirkwood is amazing for Pow. If you think it's not, you're doing it wrong.

 

[CaptainObvious.]

Yeah, Breck, Key, Kirkwood and Park City all suck. Especially for pow and park.

Aaaaaaaaaaaand I'm sorry. You were being sarcastic.

.....I'm an ass.

 

[.Hugo.]

.....I'm an ass.

And you smell like one too

 

[Mr.Bishop]

I can't say this surprises me in the least. I have a strong feeling this is a large part of the future of resorts.

 

[intifada]

Yeah, Breck, Key, Kirkwood and Park City all suck. Especially for pow and park.

You're right kirkwood is awesome, forgot about that one. Stand by my comment for the others

 

[arnie_grape]

not stoked. I was hoping they'd stay the fuck out of canada.

at least it's whistler though. its already the disneyland of ski hills. bumping the price from 120/day up to 160 should be no biggie.

"just the cheeseburger today? okay that'll be 32.70. ketchup too? okay your total is $36"

but I'll be really bummed if they start coming after all the sick bc resorts with expansion plans like red, revy, whitewater etc. vail has the money and they'll probably take it.

 

[eheath]

Fuck this shit.

 

[mat_espo]

They're going to fucking ruin whistler.

 

[GayWolf420]

How much percentage-wise do they own all around the world? Does the anti trust act apply to their entities outside of the US? Theyre easily at over 50% of resorts now

 

[CaptainObvious.]

They're going to fucking ruin whistler.

.....How? Genuinely I'm asking how they'll ruin whistler. I've skied at a shitload of the Vail resorts and not once felt like they even touched the mountains. Aside from maybe some "Epic" shit on the mountain, like free photo spots, little race courses (also free), and maybe more marketing material to get you to try and buy more shit.

I feel like there is so much "anti-establishment" hate just for the sake of hate. Everyone jumps on the fuck corporate bandwagon without even knowing why they're jumping on the bandwagon besides it being cool.

Why is this not viewed as a move that will introduce stability in smaller resorts and accessibility in larger resorts? The homies up north who fork out their money to get a pass to Whistler now have the option to come to Colorado....Utah....Nevada.....California....Michigan....jesus tittyfucking christ you can ski all over the place and save some nickels (as compared to what it would cost if you wanted to travel a la carte)

I don't. fucking. get it. Besides the lifties bitching because they won't be allowed to smoke week behind the shack anymore.

I know I'm going to get a shitload of hate for saying all that, but whatever. Prove me wrong and make me understand. I'm open.

 

[JAHpow]

Where's Vail getting all this money?

 

[eheath]

.....How? Genuinely I'm asking how they'll ruin whistler. I've skied at a shitload of the Vail resorts and not once felt like they even touched the mountains. Aside from maybe some "Epic" shit on the mountain, like free photo spots, little race courses (also free), and maybe more marketing material to get you to try and buy more shit.

I feel like there is so much "anti-establishment" hate just for the sake of hate. Everyone jumps on the fuck corporate bandwagon without even knowing why they're jumping on the bandwagon besides it being cool.

Why is this not viewed as a move that will introduce stability in smaller resorts and accessibility in larger resorts? The homies up north who fork out their money to get a pass to Whistler now have the option to come to Colorado....Utah....Nevada.....California....Michigan....jesus tittyfucking christ you can ski all over the place and save some nickels (as compared to what it would cost if you wanted to travel a la carte)

I don't. fucking. get it. Besides the lifties bitching because they won't be allowed to smoke week behind the shack anymore.

I know I'm going to get a shitload of hate for saying all that, but whatever. Prove me wrong and make me understand. I'm open.

Vail just changes everything, its not exactly noticable to someone just riding the resort, vail fired like half of the employees at park city, i wouldnt be surprised if they clean house at whistler too, change a bunch of shit on the back end, etc. who knows what will happen to summer ops (bike and snow) and who knows what else they might change. Vail buying your resort means one good thing, your pass will be cheaper and everything else is going to change for the worst most likely. Im not just assuming this, ive personally experienced it.

 

[CaptainObvious.]

Vail just changes everything, its not exactly noticable to someone just riding the resort, vail fired like half of the employees at park city, i wouldnt be surprised if they clean house at whistler too, change a bunch of shit on the back end, etc. who knows what will happen to summer ops (bike and snow) and who knows what else they might change. Vail buying your resort means one good thing, your pass will be cheaper and everything else is going to change for the worst most likely. Im not just assuming this, ive personally experienced it.

Ok fair enough. I can understand changes under the sheets that the general consumers won't feel. And as a fan of the industry and people that work in it, that does blow.

But....speaking objectively and to the end goal....which is to make money...regardless of how evil you are, the move is a positive for consumers. Could they do that without cutting the workforce? Probably.

Here's my question which I think is very important. Five years after they consume a resort, does it run better? Because if it does, then there was rhyme to their reason, even if it pissed people off.

I can tell you that growing up at Kirkwood, then leaving Tahoe, and going back to it three years after Vail acquired it.....my experience was better.

 

[JohnLocke]

So much for anti-trust laws......

 

[SkiBum.]

How much percentage-wise do they own all around the world? Does the anti trust act apply to their entities outside of the US? Theyre easily at over 50% of resorts now

Not even close

 

[..=]

This is a mixed situation. Now that Epic passes will be specifically targeted towards Canadians, the value will be much higher than previously. A Whistler specific pass was like $1500, now it'll likely be much cheaper with the added inclusion of Breck, Keystone and Australia. It'll be interesting to see how the glacier season is handled going forward. In the long run, it could also be quite bad, but only time will be able to tell.

What I do know is that companies like this are slowly but surely monopolizing skiing. Don't forget about your local small time resorts, even with the cheap pass option, you've gotta support them as well. It's no different than buying skis from a K2 instead of an ON3P

 

[GayWolf420]

Not even close

Obviously shooting from the hip as an idiot but elaboration would be cool as well. They own a shitload still.

 

[eheath]

Obviously shooting from the hip as an idiot but elaboration would be cool as well. They own a shitload still.

they own now what 15 resorts? there are hundreds of resorts in the united states. They're not even above 50% in CO and they own 0 resorts on the east coast, where there are over 100 alone.

 

[gapersarefriends]

they own now what 15 resorts? there are hundreds of resorts in the united states. They're not even above 50% in CO and they own 0 resorts on the east coast, where there are over 100 alone.

Kind of far fetched, but would be kind of cool to see how much of the area available to ski in north america vail now owns

 

[el_mn_op]

How much percentage-wise do they own all around the world? Does the anti trust act apply to their entities outside of the US? Theyre easily at over 50% of resorts now

Not even close

they own now what 15 resorts? there are hundreds of resorts in the united states. They're not even above 50% in CO and they own 0 resorts on the east coast, where there are over 100 alone.

But the number of resorts they own isn't equal to their market share.. Given how large/popular many of the resorts they own [have bought] are, I would think that their market share, at least in North America, is probably pretty significant?

 

[eheath]

But the number of resorts they own isn't equal to their market share.. Given how large/popular many of the resorts they own [have bought] are, I would think that their market share, at least in North America, is probably pretty significant?

But the number of resorts they own isn't equal to their market share.. Given how large/popular many of the resorts they own [have bought] are, I would think that their market share, at least in North America, is probably pretty significant?

I mean lets list the resorts they own and do not own in north america

Vail owns:

Vail Ski Resort

Beaver Creek Resort

Keystone Resort

Breckenridge Ski Resort

Heavenly Mountain Resort

Kirkwood Mountain Resort

Northstar

Park City Mountain Resort

Afton Alps

Mount Brighton

Wilmot Mountain

Perisher Ski Resort

and now Whistler

Vail does not own:

Mammoth

Bear

Squaw

Snowbird/Alta

Brighton

Solitude

Deer Valley

Snowbasin

Powder Mountain

Big Sky

Jackson Hole

Grand Targhee

Sun Valley

Mt Batchelor

Mt Hood (any of the 3)

Mt Baker

Snoqualmie

Stevens Pass

Winter Park

Loveland

Abasin

Copper Mountain

Silverton

Crested butte

Steamboat

And this is just the "larger" ski resorts in the west that i could come up with off the top of my head, tons in washington, montana, cali, etc weren't even listed. So yes, they are no where near the majority of the market share either.

 

[Kazabazua]

Just when you thought Whistler couldn't get anymore expensive...

 

[Brocka_Flocka]

The Colorado Native who wants to go to school at UBC is absolutely stoked on this.

But the Colorado Native who grew up skiing Summit County hates this.

 

[Bombogenesis]

So much for anti-trust laws......

How does a business expanding violate anti trust laws??

 

[el_mn_op]

And this is just the "larger" ski resorts in the west that i could come up with off the top of my head, tons in washington, montana, cali, etc weren't even listed. So yes, they are no where near the majority of the market share either.

http://www.wikinvest.com/stock/Vail_Resorts_(MTN)

^In 2007, Vail's market share by revenue was 28%, and their market share by skier visits was 11.3%. I wish this article wasn't so old. I couldn't find an updated stat on their market share/ didn't feel like doing the research or math myself. 28% isn't the majority, but it is over a quarter of the market, and I imagine it's only gone up since...

Although, that's only in the U.S. Idk, that doesn't really resolve anything, but is interesting at least. Shrug.

 

[eheath]

http://www.wikinvest.com/stock/Vail_Resorts_(MTN)

^In 2007, Vail's market share by revenue was 28%, and their market share by skier visits was 11.3%. I wish this article wasn't so old. I couldn't find an updated stat on their market share/ didn't feel like doing the research or math myself. 28% isn't the majority, but it is over a quarter of the market, and I imagine it's only gone up since...

Although, that's only in the U.S. Idk, that doesn't really resolve anything, but is interesting at least. Shrug.

There is no doubt they have a large share of the market, but not anywhere near majority like people are assuming. By revenue, maybe 40-45% because all of their resorts are extremely expensive, but what matters to me more is the skier visits, which if it was 11.3% in 2007, they're probably closer to 20% now, but that still very low to consider them as a monopoly in my mind, even though the grounds for a monopoly would be determined on revenue, correct? I'm not exactly sure on that.

But to the previous point, 20% of skiers is a lot but in reality, not that much when you think about how many little resorts exist and the amount of people around those smaller resorts. Vail will really be making a move is they start buying up resorts like jay peak, killington, mount snow, etc but i doubt that'll happen.

 

[RousedWits]

The one thing I see is ticket prices rising.

One thing I don't see happening is a complete refresh of the employees. The people working there now will most likely continue, and just receive a pay check from someone else. I think that overall the mountain staff, locals, and people who ski there often will carry the same culture and vibe that has been there since I've been going there. Especially since whistler is such a large mountain already with a village and a big reputation.

What scares me is the trend of ski mountains being bought by bigger companies. Smaller ski areas, often times get bought and the new ownership tries to transform the place into some type of resort. in doing so they can really ruin a lot of what made the small ski area special. Just my opinion I guess

 

[eheath]

One thing I don't see happening is a complete refresh of the employees. The people working there now will most likely continue, and just receive a pay check from someone else. I think that overall the mountain staff, locals, and people who ski there often will carry the same culture and vibe that has been there since I've been going there. Especially since whistler is such a large mountain already with a village and a big reputation.

Vail cleaned house at park city, a well established resort, the resort with the most skier visits in utah, with great employees and reputation as well... vail likes to have vail people working for their resorts.

 

[Z-Juice]

For those of you who have skied at Park City or any of the Cali resorts before and after Vail bought them, have they changed operating dates significantly? I believe PC closes earlier than it used to, not sure about Cali resorts.

The reason I ask is because I might spend the 18/19 season in Whistler, when Vail Resorts starts operating the mountain. One reason why I'm interested is because they usually have a great park setup through mid-May, I'd hate to see them close earlier and not have that option. I know there's no way of telling what their plans are, just seeing if any of you guys have a guess based on Vail's previous experience of taking over resorts.

 

[RousedWits]

Vail cleaned house at park city, a well established resort, the resort with the most skier visits in utah, with great employees and reputation as well... vail likes to have vail people working for their resorts.

Jeez did not know that, that is ridiculous!

 

[SkiBum.]

Vail cleaned house at park city, a well established resort, the resort with the most skier visits in utah, with great employees and reputation as well... vail likes to have vail people working for their resorts.

They didn't clean house as much as people just didn't want to work for them. They gave the ax to maybe 5-7 management/upper management. But way more then that left on their own terms within the next year

 

[Jibberino]

How much percentage-wise do they own all around the world? Does the anti trust act apply to their entities outside of the US? Theyre easily at over 50% of resorts now

You must be fucking joking right? Over 50% of resorts outside the US? You know that they only own one resort outside of the US right?

 

[KapitolPhoto]

EpicPoutine.

 

[eheath]

They didn't clean house as much as people just didn't want to work for them. They gave the ax to maybe 5-7 management/upper management. But way more then that left on their own terms within the next year

I used to know a bunch of people who worked for park city, mostly marketing and communications departments and they just shut the whole thing down, it was like at least 12 employees just in that department and everyone i knew personally who was in that department was laid off. And that wasn't the only department that got cut too, park manger got cut too, along with other management as you said, no one i know left on their own terms, they got laid off. All though everyone i know in the maintenance departments didn't get fired, but a bunch of peoples pay got cut especially going into the summer, its absolute bullshit.

 

[pow_pow~]

How much percentage-wise do they own all around the world? Does the anti trust act apply to their entities outside of the US? Theyre easily at over 50% of resorts now

They own like 15 resorts..

.....How? Genuinely I'm asking how they'll ruin whistler. I've skied at a shitload of the Vail resorts and not once felt like they even touched the mountains. Aside from maybe some "Epic" shit on the mountain, like free photo spots, little race courses (also free), and maybe more marketing material to get you to try and buy more shit.

I feel like there is so much "anti-establishment" hate just for the sake of hate. Everyone jumps on the fuck corporate bandwagon without even knowing why they're jumping on the bandwagon besides it being cool.

Why is this not viewed as a move that will introduce stability in smaller resorts and accessibility in larger resorts? The homies up north who fork out their money to get a pass to Whistler now have the option to come to Colorado....Utah....Nevada.....California....Michigan....jesus tittyfucking christ you can ski all over the place and save some nickels (as compared to what it would cost if you wanted to travel a la carte)

I don't. fucking. get it. Besides the lifties bitching because they won't be allowed to smoke week behind the shack anymore.

I know I'm going to get a shitload of hate for saying all that, but whatever. Prove me wrong and make me understand. I'm open.

Whistler will stay the same, expensive to stay, expensive to eat, and expensive to ski.

Just when you thought Whistler couldn't get anymore expensive...

Well considering this will drop season passes from about $2k or whatever to $600...

The one thing I see is ticket prices rising.

One thing I don't see happening is a complete refresh of the employees. The people working there now will most likely continue, and just receive a pay check from someone else. I think that overall the mountain staff, locals, and people who ski there often will carry the same culture and vibe that has been there since I've been going there. Especially since whistler is such a large mountain already with a village and a big reputation.

What scares me is the trend of ski mountains being bought by bigger companies. Smaller ski areas, often times get bought and the new ownership tries to transform the place into some type of resort. in doing so they can really ruin a lot of what made the small ski area special. Just my opinion I guess

People that think Vail acquires a mountain and then fires all the staff are idiots. Sure they get rid of a few upper management positions to replace them with one of their own but that's to be expected. To say that they clean out all the staff is just silly.

 

[Static]

Where's Vail getting all this money?

Fucking hell, are they really fucking us that hard on skiing? Is ski resort real estate really that fixable? Are they abusing some federal subsidies?

 

[californiagrown]

.....How? Genuinely I'm asking how they'll ruin whistler. I've skied at a shitload of the Vail resorts and not once felt like they even touched the mountains. Aside from maybe some "Epic" shit on the mountain, like free photo spots, little race courses (also free), and maybe more marketing material to get you to try and buy more shit.

I feel like there is so much "anti-establishment" hate just for the sake of hate. Everyone jumps on the fuck corporate bandwagon without even knowing why they're jumping on the bandwagon besides it being cool.

Why is this not viewed as a move that will introduce stability in smaller resorts and accessibility in larger resorts? The homies up north who fork out their money to get a pass to Whistler now have the option to come to Colorado....Utah....Nevada.....California....Michigan....jesus tittyfucking christ you can ski all over the place and save some nickels (as compared to what it would cost if you wanted to travel a la carte)

I don't. fucking. get it. Besides the lifties bitching because they won't be allowed to smoke week behind the shack anymore.

I know I'm going to get a shitload of hate for saying all that, but whatever. Prove me wrong and make me understand. I'm open.

Won't change the winter ops too much. But it will completely change the summer ops. Yellowjackets telling riders to slow down on a-line, freight train and dirt merchant. Closing trails for slippery conditions, and making everything rollable and mellow. Fences and netting everywhere etc.

Vail hates liability, and the bike park has a whole bunch of trails that leave them open to it.

 

[Doc.Stomp]

I think there are two sides to this argument...

On the one hand, it sucks. Vail resorts are a public company meaning they need to make money for their share holders. In the currently turbulent global market based off things like the Brexit and so on, its easy to see why they are inflating prices to their holdings at the ticket window. It is to cope in the event that a huge market crash occurs in the next 5 years or so, which is entirely possible. This insurance has been working for them. Currently Vail are showing a 13% percent increase in ticket sales because they are encouraging people to buy early. This combined with the Epic pass program allowing skiers to ski all mountains is jumping their stock radically, by 8% yesterday in fact. Its just an insurance policy essentially. All this however means that community spirit, jobs, trademarks and the mountain town go under the microscope to see how much money they can save. That is the bad bit, its a factory holiday to the snow.

On the other hand, there is a positive side to it. As their portfolio grows, so does their stability. By acquiring Whistler they have pretty much ensured that they will have a mountain with skiable terrain for the next 30 years or so. California is in its driest period in decades and nobody knows how long the snow is going to last. Im an Aussie and there is a feeling down here that in 20 years we might not have the snow quality we get now days. The fact that Vail has invested down here and now in Whistler shows business confidence in the snow. Then following that, a belief that if shit does hit the fan they can provide another mountain or potentially snow-make harder than any other company with all the money they have stored away. It sounds pessimistic as fuck but honestly as the snow melts, a company with a financial backing is exactly what mountains will need to keep going.

Its stability for the ski industry. Vail believe that by investing in these mountains, they will be profitable for the next century. That gives me hope that people will be skiing for the next 100 years. The lesser of two evils.

 

[JGWI]

Vail is just jealous that their own resort is like a run-down freeway truck stop with moldy overpriced donuts, so they go and buy everyone else's.

 

[Yung_Jimmy]

The evil empire is expanding. As a vail resorts employee I'm stoked they finally have a decent mountain I can ski at for free because the rest of their resorts are trash.

Yeah, Breck, Key, Kirkwood and Park City all suck. Especially for pow and park.

Coming from someone who lives on the East Coast, I would give my left testicle to be able to live and ski at any of those resorts. Take a trip over here and then tell me that those resorts are trash.